Imperial Oil Limited (NYSEAMERICAN:IMO) Shares Purchased by CWA Asset Management Group LLC

CWA Asset Management Group LLC raised its holdings in Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) by 30.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 17,579 shares of the energy company’s stock after buying an additional 4,119 shares during the period. CWA Asset Management Group LLC’s holdings in Imperial Oil were worth $1,083,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in shares of Imperial Oil by 0.9% during the third quarter. Franklin Resources Inc. now owns 191,647 shares of the energy company’s stock worth $13,502,000 after purchasing an additional 1,619 shares during the last quarter. Tidal Investments LLC grew its position in shares of Imperial Oil by 77.4% in the 3rd quarter. Tidal Investments LLC now owns 7,474 shares of the energy company’s stock worth $527,000 after acquiring an additional 3,261 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Imperial Oil in the 3rd quarter valued at approximately $137,000. Barclays PLC lifted its stake in Imperial Oil by 27.8% during the third quarter. Barclays PLC now owns 2,838 shares of the energy company’s stock worth $200,000 after purchasing an additional 617 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Imperial Oil by 9.1% during the third quarter. Geode Capital Management LLC now owns 842,664 shares of the energy company’s stock worth $59,502,000 after purchasing an additional 70,357 shares during the last quarter. 20.74% of the stock is currently owned by hedge funds and other institutional investors.

Imperial Oil Trading Up 4.3 %

Shares of NYSEAMERICAN IMO opened at $65.83 on Wednesday. Imperial Oil Limited has a 12-month low of $54.58 and a 12-month high of $80.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.44 and a quick ratio of 1.23. The company has a market cap of $33.74 billion, a PE ratio of 9.81 and a beta of 1.42.

Imperial Oil Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Tuesday, December 3rd were paid a dividend of $0.4304 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Tuesday, December 3rd. Imperial Oil’s dividend payout ratio is currently 26.38%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IMO. Scotiabank reissued a “sector perform” rating and set a $110.00 target price on shares of Imperial Oil in a report on Wednesday, September 25th. JPMorgan Chase & Co. cut shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. Finally, Wolfe Research lowered Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, Imperial Oil currently has a consensus rating of “Hold” and a consensus price target of $109.00.

Imperial Oil Company Profile

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.